Loan loss reserves make up an essential part of a bank's soundness and more generally its viability. An under-provisioned reserve account implies that capital ratios may overstate a bank's ability to absorb future losses. For this reason, both supervisory authorities and investors regularly...

The financing of public infrastructure investment through public-private partnerships faces daunting challenges related to the success of implementation of public infrastructure investment. There are multi-dimensional competing factors which inhibit the short and long-term implementation of...

Fiscal decentralization and intergovernmental fiscal relations reform have become nearly ubiquitous in developing countries. Performance, however, has often been disappointing in terms of both policy formulation and outcomes. The dynamics underlying these results have been poorly researched....

This paper studies the effects of job creation tax credits (JCTCs) enacted by U.S. states between 1990 and 2007 to gain insights about fiscal foresight (alterations of current behavior by forwardlooking agents in anticipation of future policy changes). Nearly half of the states adopted JCTCs...

Once with the Romania's adherence to the European Union, assuming some obligations and initiatives were imposed, from a national level to a local and a county level. Adherency to the European Union, made Romania assume its politics regarding the environment field and elaborate several plans of...

We come close to characterizing the class of social choice correspondences that are implementable in rationalizable strategies. We identify a new condition, which we call set-monotonicity, and show that it is necessary and almost sufficient for rationalizable implementation. Set-monotonicity is...

While sustainability issues increasingly gain importance for new product design, they also further complicate the NPD process. In many cases it is hard to exactly measure the socio-environmental impact of new products, and sustainability targets may conflict with other ones. Innovators can aim...

Regional governments' discretion in allocating structural funds is mainly limited by the competences of the Commission to control implementation and fiscal activities of decentralized governments. In this paper, we analyse implementation of ERDF funds in Eastern Germany in the financial...

We prove that a social choice function is repeatedly implementable if and only if it is dynamically monotonic when the number of agents is at least three. We show how to test dynamic monotonicity by building an associated repeated game. It follows that a weaker version of Maskin monotonicity is...

In this paper we conduct a laboratory experiment to test the extent to which Moore and Repullo's subgame perfect implementation mechanism induces truth-telling in practice, both in a setting with perfect information and in a setting where buyers and sellers face a small amount of uncertainty...

Organizations must not only take the right decisions, they must also ensure that these decisions are effectively implemented. Fama & Jensen (1983) argue that the same members of many organization are often responsible for both decision initiation and implementation. If these have social...

Wage dispersion among observationally similar workers is still only partially unexplained by economists from both a theoretical and an empirical point of view. Given that jobs can be broken down into tasks, namely units of work activities producing output, we empirically test whether part of the...

We extend the equivalence between Bayesian and dominant strategy implementation established by Gershkov et al. (Econometrica, 2013) to environments with non-linear utilities satisfying the average single-crossing property and the convex-valued assumption. The new equivalence result produces...

In this paper we conduct a laboratory experiment to test the extent to which Moore and Repullo’s subgame perfect implementation mechanism induces truth-telling in practice, both in a setting with perfect information and in a setting where buyers and sellers face a small amount of uncertainty...

In this paper we conduct a laboratory experiment to test the extent to which Moore and Repullo's subgame perfect implementation mechanism induces truth-telling in practice, both in a setting with perfect information and in a setting where buyers and sellers face a small amount of uncertainty...

Organizations must not only take the right decisions, they must also ensure that these decisions are effectively implemented. Fama and Jensen (1983) argue that the same members of many organization are often responsible for both decision initiation and implementation. If these have social...

We determine the core characteristics of a climate coalition's optimal policies in a dynamic two country directed technical change framework. Unilateral policies alter the structure of production and thereby innovation incentives across countries. Whenever feasible, optimal policies implement...

In October 1956, the RAND Corporation establis hed the Logistics Systems Laboratory (LSL) with the goal of using simulation to translate the broad findings of normative microeconomics into detailed, implementable pr ocedures for US Air Force oper ations. The laboratory was housed in the training...